CHEYNEY GROUP MARKETING is a firm providing website and practice development services to the accounting industry. The website development services operate efficiently by generating leads through optimization of search engine. Our practice development system serves as training ground for accountants at higher profit margins to realize higher fees every hour and operate a less stressful trial.

Monday, 23 March 2015

Cheyney Group Marketing: GoDaddy's IPO to raise $418m

Web
registrar GoDaddy has announced
plans to make an Initial Public Offering (IPO) that will raise them USD 418
million and increase their market capitalization to almost USD 3 billion.

GoDaddy
has filed for an IPO last year with the "GDDY" ticker symbol but it
has yet to set an exact date for the IPO. The internet company based in Arizona
which offers webhosting and domain registration has updated its filing last
week with the Securities and Exchange Commission, according to Cheyney Group Marketing.

Around
61 million Class A and 90.4 million Class B stocks are expected to remain with
the company after its public offering. Each share will range from USD 17 to USD
19, and with about 22 million stocks planned to be offered, the company has the
potential to gain USD 2.88 billion in market capitalization.

This
is not the first time the internet company has planned to go public though --
it was first rumored to have an IPO 6 years ago but it did not go through. Then
in 2011, Technology Crossover Ventures, Silver Lake Partners and Kohlberg
Kravis Roberts & Company acquired the firm which was valued at that time at
USD 2.25 billion.

Should
it successfully go through with listing on the NY Stock Exchange, it's reported
to be valued now at almost USD 3 billion. However, since an IPO opens up a
company's financial condition, it was revealed that GoDaddy lost USD 143
million out of its USD 1.4 billion revenue in 2014.

Experts
from Cheyney Group Marketing are in agreement that 2015 is still a good year
for internet firms to go public, and with the brand recognition that GoDaddy
already has, it could prove to be popular with investors.

Since
it was founded as Jomax Technologies in 1997, it has served around 12.7 million
clients. It currently manages almost 60 million domains, making it the largest
web registrar in the world.